SECTOR FOCUS: LEGAL
Lawyers’ pension plans in spotlight
Notes unfit for business
By Brian Hall Sales & Marketing Director
Last month, I reporteded on BHSF’s autumn seminar programme. As these unfold the hot topic at the seminars remains the fit-note programme. The concerns being raised include the large majority of the fit notes which still come in stating that the employee is unfit for work, rather than indicating what work an employee may be fit for. The fit notes continue to be illegible in some cases, with the employer being unable to fully interpret what is being communicated to them by the GP. Where any remarks are made about a return to work, there continues to be a lack of detail in the comments about the basis on which the employee could return to the workplace. The need for employers to
have access to quality occupational health remains our key observation, though some employers commented they had this is place, many did not. We are increasingly seeing that employers want to help employees return to work, but, as echoed above, they are not in possession of the relevant information for them to feel comfortable in driving a resolution. With the widely held view that ‘being in work is good for you’, employers should actively seek support mechanisms to aid the return to work agenda. We encourage employers to look at occupational health, counselling and advice services and, in order to avoid any surprises, pre-employment screening.
If this is an area of concern
for your business we would recommend looking at
www.hse.gov.uk/sicknessabsen ce/
toolkit.htm and of course you can talk to us here at BHSF.
For further information visit
www.bhsf.co.uk
42 CHAMBERLINK OCTOBER 2011 I
t’s just as well that a third of Britain’s lawyers haven’t made adequate financial provision for their retirement – because a quarter of them have no plans to retire. And even more importantly – more than 80 per cent of them don’t think
they are going to lose their jobs anytime soon. These amazing statistics have surfaced thanks to new research from mutual financial services specialist Wesleyan for Lawyers. Wesleyan for Lawyers national sales manager Mark Tootill said: “Our
research shows that the majority of lawyers (57 per cent) want to retire with an annual pension income of between £36,000 and £50,000. “To guarantee an income of £40,000 a year, a man would need to build up a pension pot of around £748,600 while a woman would need £801,286. “The age at which you start to pay into your pension can have a
considerable impact on the amount you will have to live on once you retire. “As many lawyers won’t start saving into their pensions until they are at
least in their mid to late twenties – after completing their degree and training – they might need to put a little more away each month than they expect in order to achieve their desired level of income in retirement.” In order to help achieve their retirement aspirations, 35 per cent of
lawyers said they would need to release some or all the value that exists in their property to help fund their retirement. The survey of legal professionals from across the UK also revealed that
on average lawyers would like to retire at 62, although a fifth (21 per cent) say they would like to retire before 60 and a quarter say they have no plans to retire at all.
Acquisitions bonanza
The corporate team at law firm Gateley's Birmingham office has scooped its eighth acquisition deal in three months - all in the recruitment sector. The firm’s latest deal involved advising Solihull recruitment firm Network
Group Holdings on six acquisitions worth around £2 million. The six were employment firms, four of which specialise in the engineering, construction, procurement and financial accountancy sectors. The other two were London based SSR Contract & Technical Ltd and SSR
General & Management Ltd, who are in the field of contract and management sourcing. Additionally, Gateley has also completed two acquisitions for Pertemps
Paul Cliff: deals galore
‘We feel optimistic that Birmingham's corporate transactional market is moving in the right direction’
Recruitment Partnership, who have acquired a majority shareholding in Nurture People, and a majority interest in Ashton Consulting (UK) Limited, an IT consulting business. Gateley corporate partner Paul Cliff said: “It's encouraging to see Midlands recruitment companies acquiring interests that will help strengthen the local job market whilst ensuring niche recruitment firms, that have suffered in these difficult times, can continue to flourish. "We feel optimistic that Birmingham's corporate transactional market is
moving in the right direction and we have been considerably more active on the deals front than this time last year. “As a firm we have recently risen up the Experian corpfin M&A and IPO advisor league tables to number eight compared to a position at number 20 this time last year."
Chamber legal helpline at your service
Businesses who find themselves in need of legal assistance can rest easy if they are members of Birmingham Chamber. That’s because Chamber members
can take advantage of a 24 hours a day, 365 days a year legal help line, operated by First Assist. First Assist’s dedicated in-house team of qualified solicitors,
barristers, legal executives and legal consultants are able to offer advice and information via the helpline. Among the problems which the legal team can help with are employment disputes, company and partnership issues and tax.
Call 01455 255115 and quote BCC72077 followed by your membership number.
Mark Tootill: lawyers want to retire with a big pension pot
‘The majority of lawyers (57 per cent) want to retire with an annual pension income of between £36,000 and £50,000’
SPONSORED BY: BHSF
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